Safety
Acting safely at BCM
September 6, 2023
We emphasize that security and compliance are paramount at BCM. We maintain 1:1 customer balances and all balances are fully covered. BCM has taken several measures, both visible and invisible, to minimize risks. We explain the most important measures below:
The most important measure is our Third-Party Funds Foundation. With this foundation, customer assets, both fiat currency (euros) and crypto, are separated from BCM's assets. Third-party money literally means: money that belongs to third parties, or others. Your euro and crypto assets are managed in a separate foundation. In the unlikely event of bankruptcy, your assets are not accessible to BCM's creditors. We make every effort to keep your assets as safe as possible. Unfortunately, many crypto providers do not yet use this important security measure, or only partially use it.
BCM is registered under its statutory name Coin Meester B.V. with De Nederlandsche Bank (DNB). We are officially registered as a provider of crypto services. We also have an official registration for offering custody wallets. This means that we are accountable annually to the Dutch regulator. BCM wants to be at the forefront of the industry in terms of security and compliance. We have a strict policy to comply with the Money Laundering and Terrorist Financing Act (Wwft).
Another measure is our cold-storage policy. Most of all crypto is stored offline, so that in the event of a hack it is isolated from the Internet. As a result, hackers cannot access it.
At BCM, you can earn extra income through on-chain staking. On-chain strike balances are covered by the Coin Master Third-Party Funds Foundation, so you don't risk losing balances.
Off-chain staking (also called "earn," but in fact making funds eligible) through third parties has not been offered by BCM since June 2022, just before Celsius suspended all withdrawals. Currently, we only offer small fees for holding crypto on our platform, but this is funded by BCM itself.
We want to additionally emphasize that BCM has not in any way made funds eligible with third parties at this time. Transparency, reliability and security are always guiding principles at BCM.
If you have any questions as a result of this article, please feel free to contact us. At BCM we are happy to help you with all your crypto questions and you will always get an answer within the shortest possible time. This can be done both by email at support@bcmtoday.com and by phone at 085 007 6000 between 9:00 - 17:00 on weekdays.
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